WASHINGTON, DC - Oversight and Investigations Subcommittee Chairman Cliff Stearns (R-FL) today announced that Energy Secretary Steven Chu will testify on Thursday, Nov. 17, 2011, regarding the ongoing investigation of the $535 million loan guarantee to now-bankrupt Solyndra. Further details for the hearing will be announced when they are available.
Mr. Stearns made the following statement:
“We appreciate Secretary Chu making himself available and look forward to hearing his testimony on DOE’s involvement with the half-billion dollar loan to Solyndra. We hope he will finally provide answers about why DOE consciously ignored the direct warnings from their own experts that Solyndra was doomed to fail, and granted the loan to Solyndra. We are also interested in why Secretary Chu and the Energy Department, at a time when Solyndra was fresh out of cash, still went ahead and restructured Solyndra’s loan in violation of the plain letter of the law. Dr. Chu’s testimony is an important piece of the overall Solyndra puzzle as we seek answers on why taxpayers are now on the hook for a half billion dollars."
